Business
Aseana Interim Results update
Aseana Interim Results update.
About this update from Aseana Properties Limited
[{"type":"text","content":"\n RNS Number : 1988C Aseana Properties Limited 28 August 2008 \n \nDate: 28 August 2008\nOn behalf of: Aseana Properties Limited ('Aseana' or 'the Company')\n For immediate Release\n\n \nAseana Properties Limited\nNAV / RNAV update\n\nPursuant to the release of its interim results earlier today, Aseana Properties Limited (LSE: ASPL), a leading Asian property developer on the Official List of the London Stock Exchange, announces that the NAV and RNAV per share, as at 30 June 2008, were US$0.947 and US$1.129 respectively.\n\n\nEnquiries:\n\n\n\n\n\nAseana Properties Limited\n\n\nContactable via Redleaf\n\n\n\n\n\n\n\n\n\n\n\n\nRedleaf Communications\n\n\nTel: 020 7822 0200\n\n\n\n\nAdam Leviton / Samantha Robbins / Kathryn Hurford \n\n\nEmail: [email protected]\n\n\n\n\n\n\n\n\n\n\n\n\nFairfax I.S. PLC\n\n\nTel: 020 7598 5368\n\n\n\n\nJames King / Gillian McCarthy\n\n\n\n\n\n\n\n\n\nNotes to Editors\n\n\n\nIreka Development Management, the Manager, is a wholly-owned subsidiary of Ireka Corporation Berhad, a company listed on the Bursa Malaysia since 1993, which has 40 years of experience in construction and property development.\n\n\n\n\nThe Company typically invests in development projects at the pre-construction stage, with a primary focus on locations within the major cities of Malaysia and Vietnam. \n\n\n\n\nInvestment is made in projects where it is believed there will be a minimum 30% annualised return on equity ('ROE') on investments in Vietnam and a minimum 20% ROE on investments in Malaysia.\n\n\n\n\nNo one underlying single asset will account for more than 30% of the gross assets of the Company at the time of investment.\n\n\n\n\nThe Directors believe the following factors should provide sustainable growth in the real estate sectors of both Malaysia and Vietnam:\n\n\n\n\nAn increasing standard of living and urbanisation driven by a burgeoning young and middle class population\n\n\nClear Government role in encouraging participation of private sectors in real estate development...